Latest Articles

Just last week we posted about the CFPB’s report on consumers without credit reports or with limited credit histories. This week, the CFPB has turned its attention to consumers with reports — specialty consumer reports. On its blog, the CFPB explained that specialty consumer reporting agencies compile and sell reports containing various personal data, such as a consumer’s employment, insurance, or banking background. The CFPB advised consumers to check their reports for accuracy, providing…
The Consumer Financial Protection Bureau (CFPB) recently released a report, Data Point: Credit Invisibles, concluding that 45 million Americans do not have credit histories or have credit histories that are too sparse to generate a credit score.  The report explained that consumers without a credit record or a record with insufficient information to assess creditworthiness “face substantially reduced access to credit.”  The report also reveals the demographic characteristics of consumers with limited credit histories. …